Gold Bond Expects Lift From Tariffs

A proposed tariff on Chinese-made mattress would be a welcome relief to Connecticut-based Gold Bond Mattress and other domestic mattress manufacturers, who are trying to compete with low-cost Chinese imports that currently are flooding the U.S. market, according to Robert Naboicheck, president of Gold Bond.

Naboicheck, whose company uses U.S.-made mattress components exclusively, said Chinese mattress imports have cornered the low end of the market in many areas of the United States, but the 10 percent tariff proposed by the Trump Administration would likely boost his company’s business because it would shrink or eliminate the unfair cost advantage now enjoyed by Chinese producers.

“There is a lot of confusion and concern by dealers of all sizes because of the proposed tariffs. Our dealers are looking to increase purchases from domestic manufacturers like us as a safe haven from what they anticipate will be a tumultuous time carrying Chinese-made product,” said Naboicheck. “I like free trade, but it has to be free and equal, and it’s not equal right now. The Chinese government clearly is subsidizing mattress producers who ship into the U.S. market, but the tariff would offset that advantage, strengthen American mattress manufacturing and preserve American jobs.”

Naboicheck said the tariff also would help domestic suppliers of components such as innersprings, foam and ticking – all of which are key elements of Gold Bond’s supply chain.

“With consumer confidence near an all-time high and unemployment near an all-time low, it’s critical that we keep the economy humming,” he said. “The tariff would give domestic mattress manufacturers and components producers a fighting chance against these low-end imports.”

In addition to the mattress components the company buys from domestic suppliers, Gold Bond has its own cotton garneting equipment, and purchases the raw cotton from U.S. growers.

The 10 percent tariff on Chinese-made mattresses would be part a second round of tariffs on some $200 billion in consumer goods proposed by the Trump Administration. In addition to mattresses, the new list includes several other home furnishings categories such as wood furniture, upholstery, lighting, textiles, and furniture components such as particleboard, MDF and inlaid wood.

The U.S. International Trade Commission will conduct hearing on the proposed tariffs Aug. 20-23.

Visit www.goldbondmattress.com

 About Gold Bond: Founded in 1899, Gold Bond is one of the nation’s largest family-operated independent mattress, specialty sleep and futon manufacturers. The company is a leader in mattress manufacturing techniques and more than a century of experience bring product innovations, high manufacturing standards and executive leadership to the industry. Handcrafted in Connecticut, Gold Bond products incorporate the latest comfort technologies in their futons and mattresses, such as Talalay Latex, encased coils and visco-elastic memory foam. Gold Bond currently ships to 40 states and five countries, and its products are available at more than 500 retail showrooms.